Banner reports Q1 net income $44.0M ($1.27 EPS), down 12% QoQ; declares $0.44 dividend

BANNER CORP

2022-Q1 EPS reported $1.27

Net income $44.0M ($1.27 diluted EPS), down 12% from $49.9M ($1.44) in Q4 2021 and down 6% YoY.
Revenue $138.1M, down 5% QoQ; net interest margin 3.18% vs 3.17% prior quarter.
Mortgage banking revenue $4.4M, down 21% QoQ and 61% YoY on lower refinance activity.
Non-performing assets improved to $19.1M (0.11% of assets) from $23.7M (0.14%) at year-end.
Board declared $0.44/share dividend payable May 13, 2022, to holders of record May 3, 2022.

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